Egypt: The liter exceeded 31 pounds - High oil prices in consumer complexes

Published 2021년 1월 4일

Tridge summary

Prices of edible oils in Egyptian consumer complexes have seen a significant increase, with corn oil going up by 10% and sunflower oil by 23%. This surge is due to high prices in the free market. Dr. Ali Al-Moslehi, the Minister of Supply and Internal Trade, has confirmed that Egypt's oil prices are linked to the global market and that the government is currently able to absorb the increase. However, he warned that if the global prices continue to rise, the catering oil prices may need to be increased as well. Despite the price hike, the minister reassured that there is a sufficient reserve of all strategic commodities to last several months.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

"Today's News Portal" monitored a significant increase in the prices of some types of edible oils offered in consumer complexes, by 10 to 23%, compared to the previously applicable prices. Corn oil, for example, rose from 28 pounds per liter to 31.75 pounds, As for sunflower oil, the price of a liter package rose from 20.25 pounds to 24.75 pounds, and the prices of large packages, which are called thrift packages, increased from 52 pounds to 59.25 pounds, and the larger package from 73 pounds to 83 pounds, due to the high prices. Oil in the free market days before the start of this year. Dr. Ali Al-Moslehi, Minister of Supply and Internal Trade, confirmed, in previous statements, that Egypt is linked to the global price of the oil commodity, which has witnessed a rise during the current time, and that until this moment we are able to absorb the global increase, and the price of oil in the ration card is 17 pounds, but in the case As this increase continues, we will have to ...

Source: Akhbarelyom